Related Articles
Forward article link
Share PDF with colleagues

Brazil on the block

The coming slate of oil auctions in Brazil will give the industry its biggest crack at developing the country's crude in two decades. But nothing in Brazil comes easy

A crisis, it is said, is a terrible thing to waste. Brazil seems to have taken it to heart. Mired in its worst recession in a century, deep economic reforms are being pushed through, including to long-untouchable pension and labour rights. Change is coming on the oil front as well, where a massive corruption scheme at state-led oil company Petrobras has cost Brazil hundreds of billions of dollars, and stalled the development of massive offshore resources. At the heart of the Temer government's efforts to reset the oil industry is a record slate of 10 oil-rights auctions over the next three years. The extensive and promising rights on offer, along with a reduction of local-content requiremen

Also in this section
Canada's cost cutters
28 June 2017
In the race to lower costs, Alberta's in situ oil sands producers are beating the miners
Latest licensing rounds
22 June 2017
The industry's most comprehensive list of current and recent rounds for onshore and offshore licenses
Heavyweights lift Mexico's second oil round
21 June 2017
Drilling boom offers bright spot in otherwise bleak global oil exploration outlook